Reported Late Wednesday, Paragon 28 Announces Pricing Of $63.8M Public Offering Of $6.5M Shares Of Common Stock At A Price Of $17/Share

Paragon 28, Inc. (NYSE:FNA) ("Paragon"), a leading medical device company exclusively focused on the foot and ankle orthopedic market, announced today the pricing of the previously announced underwritten public

Paragon 28, Inc. (NYSE:FNA) (“Paragon”), a leading medical device company exclusively focused on the foot and ankle orthopedic market, announced today the pricing of the previously announced underwritten public offering of 6,500,000 shares of its common stock at a public offering price of $17.00 per share, before underwriting discounts and commissions. 3,750,000 shares in the offering are being offered for sale by Paragon and 2,750,000 shares are being offered for sale by certain selling securityholders. In addition, Paragon and the selling securityholders have granted the underwriters a 30-day option to purchase up to an additional 562,500 and 412,500 shares of Paragon’s common stock, respectively, at the public offering price, less underwriting discounts and commissions. The gross proceeds from the offering to Paragon are expected to be approximately $63.8 million. Paragon will not receive any proceeds from the sale of common stock by the selling securityholders. The offering is expected to close on January 30, 2023, subject to customary closing conditions.

Paragon intends to use the net proceeds from the offering, after deducting underwriting discounts and commissions and estimated offering expenses payable by Paragon, for working capital, capital expenditures and other general corporate purposes. Paragon may also use a portion of the net proceeds to acquire or invest in products, technologies or businesses that are complementary to its business; however, Paragon currently does not have any agreements or commitments to complete any such transactions.

BofA Securities and Piper Sandler are acting as joint book-running managers for the offering. Canaccord Genuity is acting as a lead manager for the offering. JMP Securities, a Citizens Company and Needham & Company are acting as co-managers for the offering.

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